An amendment of POCA came into force in March that brings recipients of proceeds from the sale of tokens into scope as a relevant financial business. The draft Token Bill is with government at present and is likely to come before Parliament at its next session, in September. The Token Offering Regulations to come into force almost immediately after the Bill passes into law. They are the regulations covering disclosure requirements and Authorised Sponsors. Regulations covering token investment and ancillary services and token secondary market conduct will probably follow in Q4.